Putnam Investments is repositioning its Putnam RetirementReady Funds target-date series as the Putnam Sustainable Retirement Funds, employing sustainability-focused principles and strategies.
According to the May 31 announcement, Putnam Sustainable Retirement Funds will offer vintages ranging every five years from 2025 to 2065, along with a maturity fund, and will invest in active exchange-traded funds (ETFs) advised by Putnam. The new ESG-focused TD series is expected to be available in the coming months.
“Putnam Sustainable Retirement Funds will combine our commitment to two of our firm’s key focus areas in the marketplace—sustainable investing and helping individuals prepare for retirement,” said Robert Reynolds, President and Chief Executive Officer of Putnam Investments. “We are excited to offer access to sustainable investment strategies within a target-date format, which continues to be a preferred investment vehicle for millions of working Americans saving for retirement.”
Reynolds adds that the firm also offers a second target-date series—the Putnam Retirement Advantage suite. “We think there is tremendous value in offering clients a variety of investment strategies and approaches when addressing their financial goals, including attaining a dignified retirement,” he said.
Putnam has been building out its sustainable investing efforts and related investment offerings since 2017. The firm launched two ESG-focused mutual funds a year later and introduced its first sustainable portfolios in an active ETF format in May 2021.
